JP Morgan and Bank of America BAN Crypto
What will happen when the banks strike at crypto?? They just did...
They have done it. JP Morgan & Bank of America have now decided to decline all credit card purchases of Bitcoin and crypto currency known sites.
• This is for all credit cards due to what they say is "due to the volatility and risk involved," a J.P. Morgan Chase spokesperson said in a statement to CNBC.
• Citigroup is currently monitoring all crypto currencies which will most likely turn to declining purchases as well.
The CNBC article above states, "The news came as bitcoin has more than halved in value from an all-time high above $19,000 hit in mid-December. The high-flying digital currency had rallied 2,000 percent in just 12 months to reach that record. But bitcoin has tumbled in the last few weeks, briefly falling below $8,000 Friday for the first time since late November."
Now one thing I know that I'll be doing...is posting more here on Steemit because there might be a day where I can't purchase crypto. We have to create it here on Steemit, and also on sites like Sola.
• So what does this mean to you?
• How will this change your Bitcoin or other altcoin investments?
Love this Steemit Community!!! Thank you for allowing me to hang with you.
-Beau
If you enjoyed it, please UPVOTE, RESTEEM, & FOLLOW our adventure!
Crypto-currency will definitely chase the banks out of the market. Banks will no longer make money off people if crypto comes to stay. I believe this is why this move was taken.
If my analysis is correct, vote me up. Smiles
That is a very good point indeed. That is certainly my hope and belief for sure.
But to what extent will the banks and the regulators go to try and shut down crypto? The fact the Venezuela is putting miners in prison for running "math problems" on there computer.
This is why I am loving the social network sites like Steemit and Sola. To me, this is where I am willing to put my time into.
Great comment! Upvoting! :)
We all have seen the righting on the wall brother. There will be a day we no longer need banks. Lets hope that is soon. Thanks for the post. God Bless.
You know it!! I 100% agree!
Banks are scared. The same way Zuck is scared.